Barack Obama may be the president of the United States during the worst economic crisis in recent history, but most Americans don’t blame him, a new poll shows. When asked who’s responsible for the current economic mess, an overwhelming eight in 10 people point to banks, financial institutions and corporations, according to the Washington Post/ABC News poll published Tuesday. Seven in 10 respondents said that consumers took on too much debt and that the Bush administration was too lax with borrowing regulations, the poll revealed. Read the rest.

During an interview aired on CBS ‘s “60 Minutes,” President Obama defined his economic policy, stated his goals for the war in Afghanistan and talked about his adjustment to life in White House.

Global Economic Crisis Will Cost Africa Billions By the end of 2009, Africa’s economy stands to lose up to $49 billion due to the global economic crisis, according to research from ActionAid. Almost half of the amount –$27 billion – is due to a drop in foreign aid, earnings from exports and money from richer nations who are struggling through recession, reports the BBC. “Although developing countries didn’t make this crisis, it has become all too clear that they are in the firing line when it comes to suffering its worst effects,” said an ActionAid official. Countries that were making progress in recent years could start to backslide. “There is a real risk that development will start to go backwards in many countries as the money dries up and that the recession will lead to worsening poverty and terrible consequences for the men, women and children caught in its grip.” The country set to suffer the most is South Africa, the report says, because of the drop in foreign income.

U.S. AIDS Program Did Wonders in Guyana Guyana’s AIDS prevention program, sponsored by the United States, has helped cut the nation’s HIV rate by almost 2 percent, according to the government. The Caribbean nation’s infection rate dropped down from almost 3 percent to about 1 percent, reports the BBC. The government has been able to monitor the program’s success by testing almost half of the nation. The numbers prompted one of the nation’s health officials to call the program, which started five years ago and is headed up by the U.S. Agency for International Development, a “huge success story.” The program, which cost $20 million, focused on both awareness and prevention.

Lawmakers have come to a final agreement on President Barack Obama’s economic stimulus plan. The versions of the bills that passed the Senate and the House of Representatives were both over $800 billion, but this version costs $789 billion, according to Republican Sen. Susan Collins, from Maine. The bill should create 3.5 million jobs once it takes effect, Senate Majority Leader Harry Reid said at a news conference. The package includes money for Americans struggling in the recession, states grappling with budget deficits and tax cuts. Earlier this week, President Obama hit the primetime airwaves, making the case for the stimulus plan.

What’s one thing you would do to stimulate the economy?

Obama’s economic team tries to reassure Americans. Understanding the overwhelming public sentiment against throwing hundreds of billions of taxpayers’ dollars at the slumping economy, President-elect Barack Obama’s top economic advisers are promising that the money will not be wasted. “It’s important for the American taxpayer to know that . . . this is not going to be politics as usual,” Vice-president-elect Joseph Biden said. “And we will not tolerate business as usual in Washington. There will be – I will say it again – there will be no earmarks in this economic recovery plan. I know it’s Christmas. I know it’s the Christmas season. But President-elect Obama and I are absolutely determined that this economic recovery package will not become a Christmas tree.” He was referring to the common practice by members of Congress to stuff bills with special-interest, big money measures that target initiatives within their respective districts. Members often demand inclusion of the measures, which curry them favor at home, before they will vote for a bill. Biden met with seven advisers for an hour in Hawaii as Obama vacationed in the state. Among the plans discussed by the team were initiatives to shore up decaying bridges, roads and schools that have long been neglected. The Obama administration will inherit the worst economic mess in recent memory. Last month, sales prices for existing homes fell 13 percent over the same period last year, the most dramatic price drop since the Depression, according to the National Association of Realtors. The median price for an existing home is now $181,300. And retailers sent a letter to Obama’s economic team Tuesday proposing that up to $25 billion in stimulus money be set aside for sales-tax holidays stretched over 30 days in 2009. Under the plan, the federal government would use stimulus money to reimburse states for suspending sales taxes during these periods, under the plan laid out by the National Retail Federation. “At this point it appears the economy is going to remain weak well into 2009,” said Rachelle Bernstein, a federation official. “So doing this can provide that additional boost that may be needed.” During the meeting, Obama’s director of the National economic council, Lawrence H. Summers, said: “Without substantial policy action, we would almost certainly face the worst economic downturn since the Second World War. That’s why it is imperative that we take action to maintain demand, to maintain jobs, to maintain incomes.”

A Buffalo Soldier is reburied at Arlington. Buffalo soldier Cornelius Charlton gave his life for his country in the Korean War and got a Medal of Honor for it. But not until this week did the Bronx, N.Y., native finally get the rest of what was coming to him when the Army sergeant’s remains were buried in Arlington National Cemetery – ending a half-century of mystery, bitter tears and a quest to fully honor the fallen young hero. Graying veterans from the Bronx who made it their mission to get a fellow Black soldier into the hallowed ground he had long been denied were on hand for the burial on Wednesday, reports The New York Daily News. “Finally, after 56 years, he is where he should be,” said Robert Gumbs, one of the veterans. “I know the sorrow my family carried in their hearts for decades,” said Zenobia Penn, Charlton’s niece. “My grandparents and my mother were bitter about the injustice.” Charlton died nine days shy of his 22nd birthday, showing extraordinary heroism. He was with the 24th Infantry Regiment, the “Buffalo Soldiers,” the last all-Black unit. On June 2, 1951, he took command when the platoon leader was wounded and led an assault on a hill near Chipo-ri. He killed six enemy soldiers before he suffered a chest wound. He refused medical aid and continued up the hill and was hit by another grenade. Before he died, he raked the enemy position with gunfire, eliminating it.  Eight months after his death, in February 1952, his parents were given his posthumous Medal of Honor. The medal qualified him to be buried in Arlington, but he was not. “The Army didn’t tell the family he was eligible. Was it administrative oversight or did race play a role?” Gumbs said. Charlton was buried in the family’s plot in East Gulf, W.Va.  The military says no one has been barred from Arlington because of race. Meanwhile, his fellow soldiers lobbied for Charlton to be re-interred at Arlington and got Rep. Jose Serrano and the United Spinal Association to donate two buses to transport the Bronx veterans and the Charltons to the ceremony on Wednesday.

Congress wants more for hurting homeowners. U.S. Treasury Secretary Henry Paulson announced a change in the economic rescue plan on Wednesday, saying the treasury won’t buy distressed assets of failing banks as originally planned but will look for other ways to sure-up the economy. Meanwhile, congressional leaders continue to urge Paulson to do more to help distressed homeowners and help the failing auto industry, which could cost the country up to 1 million jobs should it go under. Their pressure comes as mortgage companies report that 14 percent of the nation’s mortgages are in foreclosure. But Paulson said Wednesday that the $700-billion rescue package was designed for financial institutions, hinting that the Bush administration might not use the fund to bail out auto companies. “We care about our auto industry in the United States. They area key part of our manufacturing industry,” Paulson said. But he emphasized that the intent of the package “was to deal with the financial industry.”  The Treasury chief suggested that Congress could use the 25-billion-dollar loan program approved in September to help automakers develop fuel-efficient vehicles. The White House did say on Wednesday that it is open to any suggestions from Congress on how to help the auto industry. The Bush administration was not responsible for automakers’ problems, said White House spokeswoman Dana Perino, but she added the government knows the auto industry is very important to the American people and it will work with the companies and Congress to find solutions.

Detroit-area youths raise funds to sing to Barack Obama. A group of 44 choral students is working to raise $28,000 for a trip to January’s Heritage Inaugural Festival in recognition of Sen. Barack Obama’s presidency. Michigan’s Southfield High School Concert Choir is scheduled to perform at an inaugural ball and throughout the weekend. “I have voted in every presidential election before,” choir director Daryl Taylor tells The Detroit News. “I’m an African-American woman, and to go to something as historic as this is going to mean a lot for a lot of these kids.”